And I only claim myself and I do not own any property or anything and I'm not a student approximately how much should I expect to get back from my tax return?
2007-01-02 08:11:41 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Sorry...gross income is embarrassingly low. just under $21,000
2007-01-02 08:29:39 · update #1
Here's a way to estimate your tax refund if you don't have anything complicated:
take your total income for the year ($21000)
minus your filing status (single: $5150)
minus your 1 exemption ($3300)
The remainder should be close to your taxable income ($12,550).
You're in the 10% tax bracket, so you owe 10% of $12,550, or $1255.
You've already paid in $1600, so you'll get back something close to the difference: 1600-1255=$345.
(Sorry to misinform you. I just looked up your income on the tax tables, and it appears you owe $1506, not $1255. That puts you in a 12% bracket.)
2007-01-02 08:40:54 · answer #1 · answered by Anonymous · 1⤊ 0⤋
joseph_ma... is mostly correct. There is no 12% bracket. You are in the 15% bracket. income up to the top of the 10% bracket is taxed at 10% and the excess over that amount up to the top of the 15% bracket is taxed at 15%.
2007-01-02 12:21:17 · answer #2 · answered by STEVEN F 7 · 1⤊ 0⤋
dont expect much because its people like us that have to really support all this free stuff bums get assistance with.
when they really dont report every thing they should
2007-01-02 08:15:53 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Your gross income is missing from your question.
2007-01-02 08:27:59 · answer #4 · answered by spicertax 5 · 0⤊ 0⤋
No idea.
It depends on how much money you made.
2007-01-02 08:15:45 · answer #5 · answered by Wayne Z 7 · 0⤊ 1⤋